Eskay Mining Corp (TSX-V:ESK, OTCQX:ESKYF) revealed that it has successfully expanded the TV-Jeff precious metal-rich volcanogenic massive sulfide (VMS) mineralized corridor with new discoveries north of the Jeff deposit and in proximity to the TV deposit.
The Toronto-based company is focused on the development of precious metals along the Eskay rift in the prolific Golden Triangle region of northwest British Columbia.
According to Eskay, recent data analysis points to a link between the TV-Jeff system on the east side of the Eskay Anticline with the Eskay Creek-SIB-Lulu system on the west. Assays from the Scarlet Ridge, Scarlet Valley, Scarlet Knob, and Tarn Lake are still pending, said the company.
READ: Eskay Mining says 2022 exploration campaign hits target; groundwork laid for 2023
The 2022 diamond drilling program focused on new areas favorable for discovering precious metal-rich VMS deposits across its consolidated Eskay property. Widely spaced fences of drill holes, around 300 meters (m) apart, tested a corridor of prospective ground extending 1.3 kilometers (km) north of the Jeff deposit, and multiple holes tested areas in proximity to the TV deposit. In both areas, significant mineralization was encountered, said the company.
Eskay reported that the first assays from a series of drill holes completed in proximity to TV have yielded compelling intercepts of gold-silver mineralization, including 3.36 grams per ton (g/t) gold (Au) and 109.50 g/t Au (4.76 g/t Au equivalent) over 2m within 1.14 g/t Au and 30.58 g/t silver (Ag) over 30.56m in hole TV22-97 and 1.03 g/t Au and 173.12 g/t Ag over 5.65m within 1.28 g/t Au and 87.92 g/t Ag over 14.95m in hole TV22-109.
Wide-spaced drilling 800m north of Jeff encountered a new zone of mineralization that yielded high-grade gold-silver results as follows:
- In hole J22-89, Eskay intercepted 15.44 g/t Au and 28.20 g/t Ag (15.80 g/t Au equivalent) over 1.59m within 1.06 g/t Au and 2.24 g/t Ag (1.09 g/t Au equivalent) over 43.96m;
- In hole J22-97, it returned 8.50 g/t Au and 11.88 g/t Ag (8.65 g/t Au equivalent) over 1.75m;
Investors can find more results here.
Eskay’s geologic team has found evidence pointing to a physical connection between the TV-Jeff VMS system on the east side of the Eskay Anticline with the Eskay Creek-SIB-Lulu system on the west opening up the opportunity for further exploration discoveries.
In addition to the potential connection between the east and west limbs of the Eskay Anticline at Hexigon-Mercury, analyses from soil sampling in 2022 now define strong silver and gold-in-soil anomalism connecting the eastern and western limbs at Excelsior. The geochemical anomalism was associated with Eskay Rhyolite breccia on the western limb of the Eskay Anticline making this occurrence similar to Lulu situated 7 km north.
New VMS discoveries
Eskay says it is “confident” that Excelsior and underexplored ground to the north and west could prove to be yet another VMS discovery and intends to drill in this area in 2023.
“Our 2022 program has shown that TV and Jeff are components of a larger trend of VMS mineralization extending at least 3.5 km along strike along the eastern flank of the Eskay anticline,” said John DeDecker, who is the vice president of exploration at Eskay Mining.
“VMS mineralization continues at least 1.3 km north of the Jeff deposit, some of which is polymetallic in character. Precious metal grades are strongly anomalous in three holes completed in an area approximately 800m north of Jeff representing the discovery of a new precious metal-bearing VMS system called Jeff North which displays significant room to grow. Drilling at TV has expanded the zone of massive sulfide mineralization discovered in 2021 northwards by nearly 100 meters,” he added.
Meanwhile, Eskay CEO Mac Balkam said that the company’s 2022 exploration program advanced its goal of finding new VMS discoveries.
“We firmly believe in the potential of the consolidated Eskay project to deliver new discoveries similar to the high-grade Eskay Creek deposit,” said Balkam. “In short, these advancements in the understanding of the project suggest our discoveries tie together all the way back to Skeena’s 21 zone, part of the Eskay Creek deposit. We are very eager to see results come in from the Scarlet Ridge-Tarn Lake area to see if we have made more discoveries there. We clearly already see a lot of new VMS targets in need of follow-up work in 2023.”
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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